India Movers: Adani Enterprises, Allied Blenders and Distillers, Canara Bank, GIC, Prestige Estates, Reliance Industries, Suzlon Energy

Arun Goswami
05 Sep, 2024
Mumbai

Stocks in Mumbai edged higher amid mixed signals from global markets. Crude oil prices dropped to an 8-month low amid demand growth worries in the U.S. and China. 

The rupee hovered near a record low as the Reserve Bank of India showed no interest in defending the currency. 

The Sensex index increased by 0.1% to 82,391.07, and the Nifty index rose by 0.1% to 25,220.80. 

On the Mumbai stock exchange, 191 stocks traded at their 52-week highs, and 20 stocks traded at their 52-week lows.

The yield on the 10-year Indian government bonds inched higher to 6.87%, and the Indian rupee weakened to 83.97 against the U.S. dollar.

Canara Bank increased 0.05% to ₹108.65, and the financial services company sold bonds to international investors worth $300 million, paying an interest rate of 4.89%. 

Allied Blenders and Distillers gained 1.1% to ₹353.10, and the company's board approved the purchase of a stake of as much as 80% for 70 crore in a venture with movie star Ranveer Singh. 

Suzlon Energy increased 2.2% to ₹74.95, and the company has sold its Pune headquarter building for 440 crore to improve its liquidity and focus on its core manufacturing business. 

OE Business Park Private Limited agreed to a sale-and-leaseback deal with an option to sell the property to Suzlon in the future. 

Prestige Estates Projects decreased 1.4% to₹1,846.65, and the residential real estate developer raised₹5,000 crore in an institutional offering through the sale of about 2.9 crore shares at an average price of₹1,674 crore. 

General Insurance Corporation of India declined 0.2% to ₹397.15, and the company received fewer-than-expected bids worth 2,300 crore on the first day of its offering on Wednesday. 

The central government may sell only a 3.4% stake in the current offering and sell the additional 3.4% stake at a later date. 

Adani Enterprises decreased 0.2% to ₹3,004.55, and the company said its first retail bond issue worth ₹800 crore was fully subscribed. 

The company also plans to bid for Nairobi, Kenya's airport, with a potential investment of $810 million. 

Reliance Industries gained 0.1% to ₹3,032.85, and the company's board is scheduled to meet on September 5 to discuss the 1-to-1 bonus issue.